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Three separate organizations make competing claims over SBFs seized assets

Odaily2024/06/15 23:41
By:Odaily
Odaily News Following his criminal conviction, former FTX CEO Sam Bankman-Fried was ordered to forfeit $11 billion in March for property related to his criminal conduct, including crypto tokens, private jets, funds in bank accounts, and more. Now, three separate organizations—the FTX Debtors’ Estate, a class of creditors, and an offshore entity founded by Sam—have made competing claims to those seized assets, claiming that they rightfully belong to them. The Debtors’ Estate claims in the filing that while Bankman-Fried was ordered to forfeit the assets, they never belonged to him in the first place because they were the result of his criminal conduct. “As determined at trial, all of the specified property is held in the name of the Debtor Entities or FTX Digital and/or is financed entirely with Debtor Assets,” the filing states.
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